CAREFREE – He’s seen it far too many times over the past year. Attorney and partner West Hunsaker, of Morris Hall, a premier estate planning law firm, explained, “Often in relationships, the one who passes first is the one who handled the finances. Again, often but not always, that is the husband, so that leaves the widow who can be overwhelmed because she just doesn’t know what to do next or where to turn.”
Hunsaker suggested when couples do estate planning, don’t focus on beneficiaries, concentrate on each other! “Sometimes the husband will take care of all the investments and the wife will never have met the financial planner. Or, the investments may be at a bank or online, and in that case, there will be no one to offer guidance to or help the surviving spouse. In all planning, be sure to include each other. Make it a family affair.”
Questions to consider, according to the professionals at Morris Hall: Is the estate planning set up to go smoothly? How is the health of the surviving spouse? Is one incapacitated? Is the plan up to date? Does the plan reflect current tax laws? What might be ramifications of those laws? Not all assets are liquid. If stocks, will spouse know what to sell? It’s of utmost import to consider all possible scenarios.
Death is never a pleasant topic, but one of the kindest acts people can do for their loved ones is PLAN. Morris Hall is conveniently located in Carefree (7208 E Cave Creek Rd) and can assist with trusts, wills, powers of attorney, even pet planning. Give them a call at 480-455-3693 for an appointment and to see why they are ranked #1 with Ranking Arizona 2018 – Best of Arizona Estate Planning Attorneys. For more information, see www.morristrust.com
